SUPPLEMENT
TO THE
PROSPECTUS
DATED MAY 1, 2000
FOR
PERSPECTIVE ADVANTAGE FIXED AND VARIABLE ANNUITY
JACKSON NATIONAL SEPARATE ACCOUNT V
At a shareholder meeting of the Trust held on October 26, 2000, all series
except the PPM America/JNL Money Market Series and each of the JNL/S&P Series
adopted, in accordance with the provisions of Rule 12b-1 under the Investment
Company Act of 1940, as amended (the "1940 Act"), a Brokerage Enhancement Plan
(the "Plan"). The Plan uses available brokerage commissions to promote the sale
and distribution of Trust shares (through the sale of variable insurance
products funded by the Trust).
The Plan permits the Brokerage Payments and Credits generated by securities
transactions from one series of the Trust to inure to the benefit of other
Series as well. The Plan is not expected to increase the brokerage costs of the
Trust. However, the staff of the Securities and Exchange Commission has taken
the position that amounts received by the Distributor or an affiliate as an
introducing broker-dealer under the Plan should be reflected in the expenses of
the Series of the Trust. Therefore, the table below estimates what each Series'
distribution fee and its resulting total and net expenses, will be deemed to be
as a result of the implementation of the Plan. This table should replace the
table located on page 4 of the Separate Account prospectus.
<TABLE>
<CAPTION>
Management Total
and Estimated Series
Administrative Distribution Other Annual
Fee (12b-1) Fees Expenses Expenses
------------------------------------------------------------------ ------------------ ------------- ------------- -------------
<S> <C> <C> <C> <C>
JNL/Alliance Growth Series .88% .02% 0% .90%
------------------------------------------------------------------
JNL/J.P. Morgan Enhanced S&P 500(R)Stock Index Series .90% .01% 0% .91%
------------------------------------------------------------------
JNL/J.P. Morgan International & Emerging Markets Series 1.08% .03% 0% 1.11%
------------------------------------------------------------------
JNL/Janus Aggressive Growth Series 1.01% .01% 0% 1.02%
------------------------------------------------------------------
JNL/Janus Global Equities Series* 1.06% .02% 0% 1.08%
------------------------------------------------------------------
JNL/Janus Growth & Income Series 1.03% .04% 0% 1.07%
------------------------------------------------------------------
JNL/PIMCO Total Return Bond Series .80% .01%+ 0% .81%
------------------------------------------------------------------
JNL/Putnam International Equity Series 1.18% .05% 0% 1.23%
------------------------------------------------------------------
JNL/Putnam Midcap Growth Series 1.05% .08% 0% 1.13%
------------------------------------------------------------------
JNL/S&P Conservative Growth Series** .20% 0% 0% .20%
------------------------------------------------------------------
JNL/S&P Moderate Growth Series ** .20% 0% 0% .20%
------------------------------------------------------------------
JNL/S&P Aggressive Growth Series ** .20% 0% 0% .20%
------------------------------------------------------------------
Lazard/JNL Mid Cap Value Series 1.08% .05% 0% 1.13%
------------------------------------------------------------------
Lazard/JNL Small Cap Value Series 1.15% .03% 0% 1.18%
------------------------------------------------------------------
PPM America/JNL Money Market Series .70% 0% 0% .70%
------------------------------------------------------------------
Salomon Brothers/JNL Balanced Series .90% .01% 0% .91%
------------------------------------------------------------------
Salomon Brothers/JNL Global Bond Series .95% .01%+ 0% .96%
------------------------------------------------------------------
Salomon Brothers/JNL High Yield Bond Series .90% .01%+ 0% .91%
------------------------------------------------------------------
T. Rowe Price/JNL Mid-Cap Growth Series 1.03% .01%+ 0% 1.04%
------------------------------------------------------------------
</TABLE>
On page 5 under the section labeled "Examples" should be replaced in its
entirety with the following:
Examples. You would pay the following expenses on a $1,000 investment, assuming
a 5% annual return on assets:
(a) if you do not surrender your contract or if you begin receiving income
payments from your contract after the first year;
(b) if you surrender your contract at the end of each time period.
STANDARD DEATH BENEFIT
<TABLE>
-------------------------------------------------------------------------------- ------- --------- -------- --------
1 3 5 10
year years years years
-------------------------------------------------------------------------------- ------- --------- -------- --------
<S> <C> <C> <C> <C>
JNL/Alliance Growth Division (a) $25 $75 $129 $276
(b) 110 145 179 276
JNL/J.P. Morgan Enhanced S&P 500(R)Stock Index Division (a) 25 76 130 277
(b) 110 146 180 277
JNL/J.P. Morgan International & Emerging Markets Division (a) 27 82 140 296
(b) 112 152 190 296
JNL/Janus Aggressive Growth Division (a) 26 79 135 288
(b) 111 149 185 288
JNL/Janus Global Equities Division* (a) 26 81 138 293
(b) 111 151 188 293
JNL/Janus Growth & Income Division (a) 26 81 138 292
(b) 111 151 188 292
JNL/PIMCO Total Return Bond Division (a) 24 73 125 267
(b) 109 143 175 267
JNL/Putnam International Equity Division (a) 28 85 145 308
(b) 113 155 195 308
JNL/Putnam Midcap Growth Division (a) 27 82 141 298
(b) 112 152 191 298
JNL/S&P Conservative Growth Division (a) 17 54 93 203
(b) 102 124 143 203
JNL/S&P Moderate Growth Division (a) 17 54 93 203
(b) 102 124 143 203
JNL/S&P Aggressive Growth Division (a) 17 54 93 203
(b) 102 124 143 203
Lazard/JNL Mid Cap Value Division (a) 27 82 141 298
(b) 112 152 191 298
Lazard/JNL Small Cap Value Division (a) 27 84 143 303
(b) 112 154 193 303
PPM America/JNL Money Market Division (a) 23 69 119 255
(b) 108 139 169 255
Salomon Brothers/JNL Balanced Division (a) 25 76 130 277
(b) 110 146 180 277
Salomon Brothers/JNL Global Bond Division (a) 25 77 132 282
(b) 110 147 182 282
Salomon Brothers/JNL High Yield Bond Division (a) 25 76 130 277
(b) 110 146 180 277
T. Rowe Price/JNL Mid-Cap Growth Division (a) 26 80 136 290
(b) 111 150 186 290
</TABLE>
ENHANCED DEATH BENEFIT
<TABLE>
-------------------------------------------------------------------------------- ------- --------- -------- --------
1 3 5 10
year years years years
-------------------------------------------------------------------------------- ------- --------- -------- --------
<S> <C> <C> <C> <C>
JNL/Alliance Growth Division (a) $26 $80 $137 $290
(b) 111 150 187 290
JNL/J.P. Morgan Enhanced S&P 500(R)Stock Index Division (a) 26 80 137 291
(b) 111 150 187 291
JNL/J.P. Morgan International & Emerging Markets Division (a) 28 86 147 311
(b) 113 156 197 311
JNL/Janus Aggressive Growth Division (a) 27 84 142 302
(b) 112 154 192 302
JNL/Janus Global Equities Division* (a) 28 85 145 308
(b) 113 155 195 308
JNL/Janus Growth & Income Division (a) $28 $85 $145 $307
(b) 113 155 195 307
JNL/PIMCO Total Return Bond Division (a) 25 77 132 282
(b) 110 147 182 282
JNL/Putnam International Equity Division (a) 29 90 153 322
(b) 114 160 203 322
JNL/Putnam Midcap Growth Division (a) 28 87 148 313
(b) 113 157 198 313
JNL/S&P Conservative Growth Division (a) 19 59 101 219
(b) 104 129 151 219
JNL/S&P Moderate Growth Division (a) 19 59 101 219
(b) 104 129 151 219
JNL/S&P Aggressive Growth Division (a) 19 59 101 219
(b) 104 129 151 219
Lazard/JNL Mid Cap Value Division (a) 28 87 148 313
(b) 113 157 198 313
Lazard/JNL Small Cap Value Division (a) 29 88 150 318
(b) 114 158 200 318
PPM America/JNL Money Market Division (a) 24 74 127 271
(b) 109 144 177 271
Salomon Brothers/JNL Balanced Division (a) 26 80 137 291
(b) 111 150 187 291
Salomon Brothers/JNL Global Bond Division (a) 27 82 140 296
(b) 112 152 190 296
Salomon Brothers/JNL High Yield Bond Division (a) 26 80 137 291
(b) 111 150 187 291
T. Rowe Price/JNL Mid-Cap Growth Division (a) 27 84 143 304
(b) 112 154 193 304
</TABLE>
--------------
* The JNL/Janus Global Equities Series (the "Series") is closed to new contract
holders after September 1, 2000. The Series will still be available to existing
contract holders, even if the contract holder does not have a current allocation
in the Series. The Series will also be available to both new and existing
contract holders as an underlying series of the JNL/S&P Conservative Growth
Series, the JNL/S&P Moderate Growth Series and the JNL/S&P Aggressive Growth
Series.
** Underlying Series Expenses. The expenses shown above are the annual operating
expenses for the JNL/S&P Series. Because the JNL/S&P Series invest in other
Series of the JNL Series Trust, the JNL/S&P Series will indirectly bear their
pro rata share of fees and expenses of the underlying Series in addition to the
expenses shown.
+ The Adviser anticipates that the 12b-1 fee will be less than .01%.
This Supplement is dated December 18, 2000.
(To be used with VC3723 Rev. 05/00)
